Beverage Cans Market Size, Growth Rate, Future scope, Analysis, Business Development and CAGR to 2023
Global Beverage Cans Market Size, Information Report by Material (Aluminum and Steel), by Application (Carbonated Soft Drinks, Alcoholic Beverages, Fruit & Vegetable Juices and others) and By Region - Global Forecast To 2023
Beverage cans are largely used for packaging of different kind of alcoholic and non-alcoholic beverages, like CSD, energy drinks, juices, and beers. Beverage cans have a superior hermetic seal and good barrier against oxygen and sunlight, thereby retaining the taste of the beverage.
The major market players in the global Beverage Cans Market Size, comprises of Silgan Holdings Inc. (U.S.), BWAY Corporation (U.S.), Toyo Seikan Group Holdings, Ltd. (Japan), Kian Joo Can Factory Berhad (Malaysia), Orora Packaging Australia Pty Ltd (Australia).
The global Beverage Cans Market Size is segmented on the basis of materials and applications. The materials used to make beverage cans are aluminum and steel. The aluminum segment dominates the market and is expected to sustain its leading market share over the review period. This is attributed to its superior properties as compared to steel, such as lightweight, higher recycling rates with secure manufacture processing. Additionally, the steel segment is also expected to acquire a substantial growth rate over the review period. The applications
On the basis of regions, the global Aluminum Can Market has been segmented as Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW). North America region leads the global Beverage Cans Market Size,. Growing demand for metal cans in the region is notably driving the growth of the market. Moreover, increasing concerns regarding the use and consumption of sustainable packaging materials are expected to drive the demand for market growth. The U.S., the most developed country in North America, accounts for the largest market share in North America. Rising consumption of processed & packaged Food and Beverage products in this region drive the growth of the market over the foreseeable future.
Europe is another primary market for beverage cans. Germany, the U.K., and France are the major markets in the region. Increased recycling activities are undertaken by the regulatory bodies, including the European Commission, and national governments of France, Germany, and the UK drive the growth of the market in the region. Furthermore, Europe is the hub of major non-alcoholic and alcoholic beverage manufacturers. This also has an encouraging influence on the growth of the market.
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